ISLAMABAD: The outsourcing process for Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi has moved forward after the Privatisation Commission Board approved an EY-Parthenon-led consortium as the top-ranked candidate for appointment as financial adviser.
The decision was made during a board meeting on Tuesday following a competitive selection process. The board has also formed a negotiation committee to finalise the Financial Advisory Services Agreement (FASA) with the consortium.
Financial Adviser to Support Airport Outsourcing
The selected financial adviser will assist the government in advancing the proposed outsourcing of operations at the two major airports.
The Privatisation Commission had invited proposals for a single financial adviser or consortium to handle both airport transactions under one FASA.
The move is part of the government’s wider plan to increase private-sector participation in Pakistan’s airport operations and improve the management and efficiency of major aviation facilities.
Islamabad Airport Being Processed Separately
The outsourcing of Islamabad International Airport is being handled separately under a long-term concession model.
The Asian Development Bank (ADB) has been appointed as financial adviser for the Islamabad airport transaction, with the process being pursued independently from the Lahore and Karachi airport outsourcing plans.
LESCO and MEPCO Also Declared Major Transactions
During the same meeting, the Privatisation Commission Board also declared the proposed privatisation of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO) as major transactions.
The commission will now begin the process of appointing financial advisers for the two power distribution companies.
LESCO and MEPCO are part of the fourth batch of distribution companies identified for privatisation, while transactions involving earlier batches are currently at different stages.
The latest decisions mark further progress in the government’s broader privatisation programme, with airports and power distribution companies among the key sectors being considered for greater private-sector involvement.
